Purpose

It is the purpose of this chapter to: (1) Promote coordination among the states in all areas of regulation, licensing, and supervision to reduce regulatory burden and more effectively utilize regulator resources; (2) Protect the public from financial crime; (3) Standardize the types of activities that are subject to licensing or otherwise exempt from licensing; and (4) Modernize safety and soundness requirements to ensure customer funds are protected in an environment that supports innovative and competitive business practices. Amended by 2023 Tenn. Acts, ch. 115, s 1, eff. 1/1/2024. Acts 1994, ch. 715, § 1; T.C.A., § 45-7-202 . It is the purpose of this chapter to: (1) Promote coordination among the states in all areas of regulation, licensing, and supervision to reduce regulatory burden and more effectively utilize regulator resources; (2) Protect the public from financial crime; (3) Standardize the types of activities that are subject to licensing or otherwise exempt from licensing; and (4) Modernize safety and soundness requirements to ensure customer funds are protected in an environment that supports innovative and competitive business practices. Amended by 2023 Tenn. Acts, ch. 115, s 1, eff. 1/1/2024. Acts 1994, ch. 715, § 1; T.C.A., § 45-7-202 .